The 18.6 acres, across Boggy Creek Road from Osceola Heritage Park, would have been used for surplus parking at the county's rodeo-stadium-exhibition complex. Elected officials killed the deal in a narrow 3-to-2 vote. The land price would have equated to $322,381 per acre or $7.40 per sf. That price would have been on the high side for dirt to be used for surface parking purposes, industrial brokers familiar with the site tell GlobeSt.com.
Osceola County staffers confirm for GlobeSt.com the land is now slated for the private development of 120 residential condominium units. The county would have voided that project by buying the land itself, sources close to the transaction tell GlobeSt.com. The county had planned to use tourist development tax revenue to fund the land buy.
The Kissimmee Convention and Visitors Bureau is preparing a master capitalization plan that county commissioners may follow in considering near-future land buys and spending for other public projects.
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